Gold and Silver Coins Popular at Middle Georgia Coin Show
Thousands of people visit a Middle Georgia coin show over the weekend to cash in on possible future investments.
Collecting coins may seem like a hobby for older people, but that didn’t faze 15-year-old Logan Walden. The Milledgeville teen is in the market to buy coins and sell his silver at the 51 Middle Georgia Coin Club Coin and Currency show.
"Value of the dollar is slowly deflating so I mean if you have something, it's going to be worth more than the dollar," Walden said.
The annual event draws more than 160 dealers from around the region and has more than 1,000 people walk through looking to capitalize on a possible future investment. This isn't Walden's first time at the show. He first bought coins a few years ago but is waiting when the market is right to resell them.
"I still have them,” he said. “I think if I wait a few years, the price will go up and I can get a little more for them. So just invest."
That's the idea for some people when they visit a coin show. Organizers said they've seen more people come into the show since the economy dropped in 2008 but buyers aren't necessarily purchasing old paper currency.
"Many, many people are liking the idea of investing in hard assets such as gold and silver in addition to their regular investment portfolio,” Middle Georgia Coin Club President Bill Lane. “It’s been very active in bullion related material."
Coin dealer Sam Halter has been selling at the show for more than 40 years. A new trend he sees now is younger people wanting to buy the precious metals
"They're looking at the dollar and the value of the dollar has decreased so badly over the last ten years that people are trying to find another investment they can put their money in that'll hopefully keep the same buying power and gold and silver seems to be that," Halter said.
Walden bought a 1970 proof set, a collection of coins that comes straight from the U.S. mint and are untouched. He said he'll add them to his growing coin collection in hopes it will appreciate in value.
"It's fun and I like making money," Walden said.
Coin show organizers have methods to prevent counterfeits and all dealers are pre-screened. Organizers plan to host the show again next year at the Agricenter in Perry.